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Yahoo Finance
Mortgage rates are climbing higher, hovering above 7%, paving the way for heightened affordability concerns in the U.S. housing market. National Association of REALTORS® Chief Economist Lawrence Yun explains the path forward for home price easements, beginning with Fed officials starting to cut interest rates. Yun insists higher for longer interest rates are making conditions harder for middle-class homebuyers, stating that Fed's rate hikes have “[taken] away the American dream.” Yun suggests bold steps be taken to manage supply concerns in the housing market.
